Oil prices continue fall amid fears production cuts won’t go far enough April 6, 2020 Oil prices have continued to fall this afternoon amid fears that proposed cuts to production will not go far enough to stabilise prices, which have been in freefall due to the coronavirus pandemic. Benchmark Brent crude fell over five per cent to stand at $32.3, while West Texas Intermediate shed seven per cent to hit [...]
Coronavirus and the economy: your questions answered April 6, 2020 | City Talk Chief Economist & Strategist Keith Wade chatted to us about coronavirus and its economic impact. Here are your nine questions answered. Q1: How do you think that the virus will affect the global economy? It is going to have a very significant impact. The virus could create a fall in GDP unlike anything that we [...]
US stocks jump as investors cheer apparent coronavirus slowdown April 6, 2020 US stocks have surged in early trading as investors are encouraged by an apparent slowdown in the spread of coronavirus. The S&P 500 jumped 4.9 per cent while the Dow Jones was up 5.2 per cent. The Nasdaq climbed 4.8 per cent. Stocks were higher in Europe too. The UK’s FTSE 100 was up 2.8 [...]
Coronavirus squeezes mutual funds causing record fund outflows April 6, 2020 The coronavirus-induced market slump caused record fund outflows last month, with fixed income funds particularly badly hit. Investors redeemed a record £3.1bn of their fund holdings in March, according to global funds network Calastone. It represents almost three times the outflows recorded in the previous worst month in June 2016 when the UK voted to [...]
Oil prices slip as investors doubt Saudi-Russia agreement April 6, 2020 Oil prices have fallen despite the head of Russia’s sovereign wealth fund saying Russia and Saudi Arabia are “very, very close” to a deal on supply cuts. Brent crude was down 2.5 per cent at $33.30 in a sign that investors are sceptical an agreement will be reached. US West Texas Intermediate was two per [...]
FTSE 100 rises with Europe set to ease coronavirus lockdowns April 6, 2020 The FTSE 100 has risen as investors are cheered by signs that the spread of coronavirus is slowing and as Europe prepares to ease lockdowns. London’s blue-chip index had risen 2.2 per cent to 5,532 points by midday. Last week, the FTSE 100 fell as data releases laid bare the damage coronavirus is causing to [...]
UK construction sector has worst month since 2009 amid coronavirus lockdown April 6, 2020 UK construction sector output plunged at the fastest rate since the financial crisis in March as coronavirus containment measures shut down sites and caused new orders to slump, survey data has shown. The IHS Markit/Cips construction purchasing managers’ index (PMI) tumbled to 39.3 in March from 52.6 in February. This was the lowest since April [...]
NMC Health strives to avoid administration after being hit by creditor court action April 6, 2020 Scandal-hit NMC Health is working to avoid going into administration after being hit by a court action brought by one of its creditors. The London-listed company said today that lawyers acting for Abu Dhabi Commercial Bank (ADCB) filed an application on 2 April in the High Court to appoint administrators to NMC with a hearing [...]
Oil prices slip on delayed talks but stocks rise as coronavirus cases slow April 6, 2020 Oil prices dipped on Monday after talks between Saudi Arabia and Russia to cut output were postponed, while a slowdown in coronavirus deaths and cases saw stocks jump. Brent crude fell as much as $4 overnight after Saudi Arabia and Russia delayed the negotiations, which were expected to go ahead today, to Thursday. Brent crude [...]
Growing European Coronavirus fears April 3, 2020 | City Talk Sterling and the Euro – a story of two halves. The pound had another resilient week, strengthening by an average of 1.9% against the other major currencies. This is despite the downgrade of Britain’s credit rating by Fitch. The pound’s strength can be attributed to the US Federal Reserve announcing billions of liquidity to stabilise [...]